CSX Co. (NASDAQ:CSX) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its position in CSX Co. (NASDAQ:CSX) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,813 shares of the transportation company’s stock after selling 7,605 shares during the quarter. Raymond James Trust N.A.’s holdings in CSX were worth $2,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Avior Wealth Management LLC grew its stake in CSX by 2.5% during the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock worth $407,000 after purchasing an additional 293 shares in the last quarter. Western Wealth Management LLC grew its position in shares of CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after buying an additional 295 shares in the last quarter. TriaGen Wealth Management LLC increased its stake in shares of CSX by 2.7% during the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after buying an additional 300 shares during the period. Lake Street Advisors Group LLC raised its holdings in CSX by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock valued at $595,000 after acquiring an additional 306 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in CSX by 0.9% in the third quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after acquiring an additional 309 shares during the last quarter. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

Shares of CSX stock opened at $35.78 on Friday. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX Co. has a 12-month low of $31.65 and a 12-month high of $40.12. The company has a market cap of $69.00 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.24 and a beta of 1.19. The stock has a 50 day simple moving average of $34.48 and a 200-day simple moving average of $33.94.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the business posted $0.42 EPS. CSX’s revenue was up 1.3% compared to the same quarter last year. On average, equities analysts forecast that CSX Co. will post 1.84 EPS for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.34%. CSX’s payout ratio is currently 25.81%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSX. Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a report on Wednesday, August 7th. BMO Capital Markets dropped their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Loop Capital reduced their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Evercore ISI dropped their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, TD Cowen reduced their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.